Karafain Bank Expands Credit & Forex Operations

The Strategic Council held a meeting in 2020-21 to review the notified plans of the Bank’s headquarters. The Managing Director, the Board of Directors as well as the deputies of the Managing Director took part in this meeting which was led by the Projects & Development Management who reported on the Bank’s accomplishments and emphasised on its plans for the forthcoming year.

In this meeting, Dr. Farzin stressed upon the importance of planning and the necessity to be committed to effectively implementing the notified plans and accepting responsibility for the outcomes.

Having referred to the role of deputies and managers as the officials of the Bank, he stated: “The Planning System at Karafarin Bank has been implemented with the aid of collective efforts of its human resources and should continue on this path based on modern approaches and constant improvement.”

He also mentioned the Bank’s outlook to expand on every level and commented: “Karafarin Bank should further expand its operations in various fields, especially in lending and foreign exchange operations and to focus on product and service development.” 

Referring to the important of plan orientation within the Bank, he also stated: “Everyone in this bank is responsible to implement its notified plans. In this regard, the intermediaries between deputies and managers play a key role in reporting and following up results.”

Having commended these intermediaries he also stressed upon the necessity of regular reporting and continuity of plan orientation, in order to best implement the 2021-22 notified plans.

Synergising the Bank’s Plans throughout the Branches & Headquarters

Zahra Eslami, the Projects & Development Affairs Manager claimed that the plans issued at headquarter level have a profound impact on the performance of branches. She also outlined the processes of planning and measuring the programs of staff units, and discussed other issues such as drafting plans for each unit, assessing plans and collaboration of deputies in drafting plans, the Strategic Council holding meetings, approving plans, schedules for the implementation of these plans and monitoring their progress, regularly reporting to the top management, etc.

“The main policies of the Bank in 2020-21 were to offer distinct corporate banking services, to invest and to develop digital banking. Whilst continuing to pursue these policies the Bank also follows development plans in the current year. Furthermore, the Bank’s overall objectives include: becoming an agile and smart organisation, further developing its human resources, boosting profitability and commission income, increasing its market share, as well as enhancing its brand. And all plans notified throughout the Bank’s branches and staff units have been approved by the Managing Director.” she explained.  

She also referred to a model that measures and rates the deputies and managements of the Bank in term of their performance in implementing the above plans. “In executing the instruction of the Managing Director with regards to measuring the performance of deputies and managements in implementing the notified plans, a rating model has been drafted. This model has been approved by the Managing Director of the Bank. In addition, this model and the Managing Director’s instruction have been notified to all deputies and managements.” she added.

Having then thanked all units for their essential contributions towards the Bank’s accomplishments she explained: “Based on this model, the Human Resource Deputy had the highest score whist other deputies also scored adequately. This clearly reflects upon the sense of responsibility that exists throughout the Bank’s personnel. Karafarin Bank successfully implemented most of its 141 notified plans in 2020-21.

 

Human Resources Top Priority in 2020-21

She also outlined some of the accomplishments of the Human Resource Deputy, including implementing a job classification project, enhancing the welfare of the Bank’s employees, implementing an integrated human resource data system as well as preparing the forms for the ISO: 10015 Standard. 

Having explained the performance of Human Resource Deputy, Dr. Ahmad Baharvandi (in charge of this deputy) stated: “Human resources are the top priority for this bank and hence, we have endevoured towards implementing human resource development programs. In this regard, we have placed meeting the requirements and expectations of our personnel and enhancing their capabilities on the top of our 2021-22 agenda.  

Transparency & Customer Orientation Focal Points of Concern for Karafarin Bank 

Zahra Eslami also explained that the accomplishments of the Financial & General Assemblies Affairs Deputy were: increasing the Bank’s capital, holding general assemblies of the Bank and its subsidiaries in time, changing the signs of branches to reflect the Bank’s new branding and categorising customers by taking advantage of the Afarin System.  

Having explained that the Bank’s priority is to uphold transparency, Dr. Farshadpour (the Financial & General Assemblies Deputy) outlined the main accomplishments of this deputy, which are: improving the Bank’s budget structure, making plans for the subsidiary companies as well as purchasing and building construction projects. 

Attracting New Customers

Referring to the notified plans and this deputy’s role in helping the Bank meet its business objectives, Eslami outlined some of the Bank’s achievements in this field: attracting new corporate, commercial and individual customers, attracting new customers for the Bank’s Financial Group (the bank’s subsidiary companies), developing new products, implementing the Branches Clinique Project (this project aims at assisting branches enhance their performance).  

Hence, the Banking Deputy, Dr. Alireza Sadeghi, referred to launching new managements in that field and implementing a new structure for the Bank. The then thanked the managers and experts of the Banking Sector in developing corporate, commercial and personal banking, etc.

 

Meeting Credit & Foreign Currency Targets

The Projects & Development Affairs Manager explained that the Bank has been successful in increasing loans sourced from its own resources as well as the sources of the National Development Fund, changing the composition of its loans, increasing non-joint income, meeting its targets, collecting claims, developing new products etc.

In this regard, Naser Sanati Nejadfar, (board member) referred to the Bank’s improvement in its credit operations and stressed upon the importance of the role of branch personnel in improving the Bank’s credit practices.   

Improving Commissionable Services

In this regard, the Bank’s chairman, Mohammad Reza Khorsandi claimed that the Bank has been successful in improving its commissionable services and that this is a major accomplishment for the Bank. “The International Banking Operations Management is currently aiming to take advantage of foreign currency systems, and shall pursue this end in the current year.” he stated. 

Meeting the Targets of Notified Plans

In this regard, Mehdi Seyf Alishahi (board member) emphasised on bring plan orientation and commitment to the notified plans. “During 2020-21, the Bank underwent structural and process transformations for the better. However, this process ought to be constantly monitored and improved. In this regard, it is necessary for the Bank to further improve its information technological capabilities.”

Success Factors: Accepting Responsibility and Commitment towards Notified Plans

Finally, having expressed his gratitude his colleagues throughout the Bank, Dr. Farzin stated: “The most important factor in being plan oriented is timely responsiveness of the deputies and managements towards the Bank and each other. It is necessary that all personnel should follow up the progress of these plans. Each deputy and management is responsible to implement its notified plans.” 

 

 

 

Publish Date: Oct 30, 2021